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Article: Russia : Steelmakers gain much from EU emissions trading scheme.
- Article from:
- TendersInfo
- Article date:
- September 11, 2009
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Byline: Mamta03
It is reported that steelmakers such as ArcelorMittal have become huge beneficiaries of the European Union's emissions trading scheme, making tens of millions of pounds out of free carbon permits.
According to official figures obtained by the Sandbag environmental campaign group, just 3 plants in Belgium, Spain and Romania, all controlled by Mr LN Mittal are sitting on 15% of the surplus permits handed out by the EU.
Ms Bryony Worthington founder of Sandbag said that "The scale of the benefits enjoyed by the steel industry make it look like the ETS is being used as a hidden subsidy to the sector."
The price of carbon ...